Buying guide
Buying property in Spain
Your guide to buying in Spain
Throughout Knight Frank's Spanish network and diverse property portfolio, we provide all our clients with the most comprehensive level of service and care.
Our Spanish associate network, operating from local offices across the country, are well established and locally owned business trading under Spanish real estate laws.
Located your ideal property? We'll also help recommend any legal, survey, planning and tax advisory firms that can assist you with due diligence, general advice and completing the transaction.
The buying process
Using our combined decades of international experience and working alongside our local experts, we can advise you on how to fine-tune your search requirements and streamline your buying process.
Request a Nota Simple
When you’ve found a property you’d like to buy, this document outlines the property’s details, confirms ownership, and lists any outstanding debts on the property.
Acquire a building survey
Fully understand the property’s condition before making an offer.
Submit an offer to the estate agent
If accepted, both parties must sign a preliminary agreement called a ‘contrato de arras’, and you’ll pay a 10% deposit.
Review the agreement
Confirm the terms of the sale, including the purchase price, property description, and conditions.
Sign the ‘escritura de compraventa’
This deed of sale, signed by both parties via a notary, formally transfer the property and register the new owner with the land registry.
Fees and taxes in Spain
There are no restrictions on who can purchase property in Spain, whether you’re an EU or non-EU citizen. However, given the complexities of foreign sales, we recommend that you seek independent advice from a financial and legal advisor for the following tax and financial requirements prior to purchase.
Property transfer tax differs by region, ranging from 6% to 11% of the purchase price.
New build properties are subject to 10% VAT plus stamp duty, which varies from 0.5% to 1.5%.
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Notary fees typically range from 0.5% to 1% of the purchase price.
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Land registry fees range from 0.5% to 1% of the purchase price.
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Legal fees are approximately 1% to 2% of the purchase price plus VAT.
There is an annual property tax called IBI (Impuesto sobre Bienes Inmuebles), which varies by municipality and typically ranges from 0.4% to 1.3% of the cadastral value.
If your home is worth over €700,00, you’ll begin paying a progressive wealth tax that varies depending on the location. If you’re a resident and the property is your primary home, you’re entitled to an additional €300,000 exemption.
Latest properties in Spain
Deià, Mallorca, Illes Balears
Villa, 0.94 acres
Elviria, Marbella, Malaga
Villa, 1325.2 sqm
Valldemossa, Mallorca, Illes Balears
Villa, 349 sqm
Casablanca, Marbella, Malaga
Villa, 503 sqm
La Zagaleta, Benahavis, Malaga
Villa, 9544 sqm
Sóller, Mallorca, Illes Balears
Townhouse, 4.94 acres
Velaya, Estepona, Malaga
Apartment, 97 sqm
Linda Vista Baja, San Pedro de Alcantara, Malaga
Villa, 1041 sqm
Montüiri, Mallorca, Illes Balears
Villa, 1785.04 sqm
Puerto Banús, Marbella, Málaga, Andalucía
Penthouse, 274 sqm
Rio Real, Marbella, Malaga
Apartment, 107.68 sqm
Cascada de Camojan, Marbella, Malaga
Villa, 1501 sqm
Sierra Blanca, Marbella, Malaga
Villa, 1148 sqm
Las Brisas, Marbella, Malaga
Villa, 2529 sqm
El Herrojo, Benahavis, Malaga
Villa, 830 sqm
Paraiso Alto, Benahavis, Malaga
Villa, 1585 sqm
El Embrujo Banús, Marbella, Malaga
Apartment, 330 sqm
La Reserva, Sotogrande, Cadiz
Villa, 4500.9 sqm
El Herrojo, Benahavis, Malaga
Villa, 1302 sqm
Castellana, Salamanca, Madrid
Apartment
Understanding laws and visas across Spain
It's not necessary to have a residence permit to buy a property in Spain, unless you plan to live in Spain for more than 183 calendar days per year. In that case, you'll need to apply for tax residency in Spain, and obtain a visa from the Spanish Consulate in their (non-EU) home country.
The ‘Mbappé Law’ is a new tax incentive introduced by Madrid to attract foreign investors and talent to live in the region by offering a significant deduction for personal income tax on certain assets. This law offers a deduction equal to 20% of your investments in the regional tax bracket of the personal income tax.
The Spain Digital Nomad Visa is a temporary residence permit that allows non‑EU/EEA citizens to live in Spain (1–3 years initially, for a total stay of up to 5 years) while working remotely for foreign companies or clients and earning most of their income outside Spain.
Spain’s Non‑Lucrative Visa (NLV) allows non‑EU/EEA/Swiss nationals to live in Spain without working, provided they can prove financial self‑sufficiency (about €28,800/year plus €7,200 per dependent), hold comprehensive Spanish‑approved private health insurance, have a clean criminal record, and secure accommodation in Spain. The visa is valid for one year, renewable for two‑year periods if funds and residency requirements (≥183 days/year in Spain) are maintained.
If you require a specialist mortgage broker for property in Europe, Traverse, a subsidiary of Knight Frank Finance LLP, will find you the right finance or mortgage solution.
